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We Are Total Incentive Solutions. RYMAX Rymax is a full-service incentive provider that creates programs and events designed to drive ROI and increase.

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Presentation on theme: "We Are Total Incentive Solutions. RYMAX Rymax is a full-service incentive provider that creates programs and events designed to drive ROI and increase."— Presentation transcript:

1 We Are Total Incentive Solutions

2 RYMAX Rymax is a full-service incentive provider that creates programs and events designed to drive ROI and increase customer and employee engagement through generationally segmented brand name rewards. Our unwavering focus is on providing customized solutions for our customers to maximize their loyalty and incentive programs. 2

3 We Are Total Incentive Solutions Know how to incorporate a recognition experience into an existing event plan Be able to bring segmentation strategies into an event environment Know how to justify the costs of an off-site recognition event to management Session Objectives 3

4 We Are Total Incentive Solutions Over 18M companies operating in the US (2012 census) Almost 122M full-time employees (Dept of Labor) Over 500K – 1.8M meetings annually (conferencehound.com) 40M – 205M attendees per year (conventionindustry.org) Meeting Stats for the US 4

5 We Are Total Incentive Solutions An engaged workforce translates to: 22% higher profitability 21% higher productivity 37% less absenteeism and employee turnover (on average) 48% fewer safety incidents Why Recognition is Important 5

6 We Are Total Incentive Solutions What has Off-Site Recognition Looked Like? 6

7 We Are Total Incentive Solutions What Should Off-Site Recognition Look Like? 7

8 We Are Total Incentive Solutions Merchandise bar 48% of planners say merchandise bars are effective at reinforcing the relationship between company & attendee* 55% of planners will only use name brand merchandise when creating a merchandise bar* Top merchandise bar categories: watches 39%...cameras 38%....outdoor & leisure equipment 37% Types of Event Recognition * Survey conducted by Successful Meetings 8

9 We Are Total Incentive Solutions In-room gifts 40% of planners say in-room gifts are effective at reinforcing the relationship between company & attendee* 65% of planners will only use name brand merchandise for in-room gifts* Top in-room gift categories: food 80%...wine & spirits 71%...apparel 53% Types of Event Recognition * Survey conducted by Successful Meetings9

10 We Are Total Incentive Solutions Experiential Directly engages employees; invites and encourages employees to participate and interact with your company Creates a sense of fun and creates a memorable group experience Top experiential categories: concerts & theater experiences (44%) and sporting events 37% Types of Event Recognition 11

11 We Are Total Incentive Solutions When starting preparation, answer two questions: 1.What is the reason for the incentive event? 2.What should the theme be? Defining the reason for the activity (loss of morale, new product launch, or customer loyalty) directs the rest of the event; and a winsome theme engages attendees. Making a Recognition Event Plan 3

12 We Are Total Incentive Solutions Thanking a particularly welcoming, helpful, or new employee. Shining a light on a company’s best practices, or on a particular employee’s contributions, so others can be inspired to follow their example. Expanding employment opportunities for members/clients. Lessening stereotypes. Helping to educate prospective employers, the public, and key stakeholders about your vocational support/placement service. What Are Your Goals 12

13 We Are Total Incentive Solutions Tie Merchandise to Theme Tough year – Survival Kit Good group – Cooler filled with merchandise & food cards Tropics: Sunglasses 13

14 We Are Total Incentive Solutions Segmentation Demographic Geographic Sociographic Reward gifts should match the differences of your audience, providing products that meet everyone’s expectations. Rewards should reflect the understanding you have about your employees. Offering products that meet their interests shows you are attentive to what your audience wants and expresses your appreciation; which will assist in retaining their loyalty. What to Consider When Planning a Recognition Event 14

15 We Are Total Incentive Solutions Segmentation Reward gifts should match the generational differences of your audience, providing products that meet everyone’s expectations. These products are in fact rewards, earned by loyal customers and/or employees. Therefore, rewards should reflect the understanding you have about your audience. Offering products that meet their interests shows you are attentive to what your audience wants and expresses your appreciation; which will assist in retaining their loyalty. 15

16 We Are Total Incentive Solutions Interaction Promote the event appropriately: After deciding which employees have earned an invite to the event, proper planning is necessary in order for the event to be successful. This process includes: Choosing an appropriate quantity of knowledgeable staff members to assist guests and ease crowd control. Developing an easy process for guests to obtain their earned reward gift(s). Selecting a suitable quantity of products on hand that covers the amount of guests on your invite list. This creates a stress-free and positive environment. Listen to your audience: Have participants fill out a profile that enables the planner to provide gifts that will be attractive to your entire audience 16

17 We Are Total Incentive Solutions Interaction If planned correctly, reward events are a great way to promote an added positive experience with a company in which a member already enjoys. Every event we plan at Rymax is different because every client is different. The key to planning a successful event, is about listening to your client’s needs and expectations. Understanding what their end goal is and then shaping that event appropriately around those common goals, keeps members loyal. 17

18 We Are Total Incentive Solutions Communication Invitation vs. Surprise and Delight Reiterate brands and products represented Consider creating a catalog and/or view only website Post to intranet and in newsletters Assign one person to take pictures/video 18

19 We Are Total Incentive Solutions Social Media More Internet users than ever are ages 65 and older and use Facebook regularly.* Fifty-two percent of adults have numerous social media accounts that they use regularly. Of those accounts, Facebook acts as “home base” – it remains the most popular site for those who only use one, and has significant overlap with other platforms.* Potentially employees are now using Social Media as their primary research tool when considering employment with a company. * Pew Research 19

20 We Are Total Incentive Solutions Use of 3 rd Party Recognition Partner Pro’s: Frees up internal resources Access to merchandise Staffing & Décor Marketing & Communication POS (if applicable) Con’s: Increases Event Budget Some loss of control by planners 20

21 We Are Total Incentive Solutions Budget It is a very expensive proposition to recruit and train new employees. Organizations need to know the facts and the cost: 22% of new hires leave their job within 45 days of being hired New hires that undergo a structured on-boarding program are 58% more likely to be with the company after three years. Average cost to replace a $30,000/yr. employee = $4,800 Average cost to replace a $50,000/yr. employee = $9,850 Average cost to replace a $75,000/yr. employee = $15,300 A successful recognition event can be accomplished for roughly the same per person cost as a sit-down dinner. 21

22 We Are Total Incentive Solutions Budget Considerations: Number of participants Number of SKU’s Checkout process (if applicable) Website development Pre event collateral Freight in and out Events specific staff Flights Rooms Per Diem 22

23 We Are Total Incentive Solutions 23

24 We Are Total Incentive Solutions THANK YOU! John Mangini Marketing Manager 973.582.3217 jmangini@rymaxinc.com 24


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